CORPUS CHRISTI, Texas (AP) — Corpus Christi officials have agreed to buy a vacant 80-year-old downtown building as part of possible redevelopment for the area.
The Corpus Christi Housing Finance Corporation on Tuesday approved spending $225,000 to buy the former Montgomery Ward building. The Corpus Christi Caller-Times (http://bit.ly/1nHqHqF ) reports the funding comes from fees charged to developers.
The three-story structure was built in 1934 for the department store, but it closed in 1969. The building has been unoccupied for at least 20 years.
The city has had an estimated $1,000 per month lease with the owners, Grover Keeton and Kathleen Smith, for parking spaces that are then leased to nearby residents.
Information from: Corpus Christi Caller-Times, http://www.caller.com